Is 20% down the best I can do on an owner occupied 3-flat loan??

[Joe Ward]

I am about to put in a couple offers on some short sale 3-flat buildings. I am working it as an "owner occupied" loan even though that is not going to be the actual case. I would've preferred to put down about 10-15% but my banker says that even if they do grant me this a an owner occupied loan, since it is a 3-flat you have to put down 20% no matter what. If it was a SFH it would be different but in this case 20% is the minimum. I live in the Chicagoland area and am working with Chase. I am just curious if others have heard of this 20% minimum down on a 3-flat rule? Thanks..Joe